QUARTERLY RESULTS
The Source Information Management Company Announces Another Record Financial Performance
BusinessWire, Thursday, September 03, 1998 at 09:26
ST. LOUIS and HIGH POINT, N.C.--(BUSINESS WIRE)--Sept. 3, 1998--The Source Information Management Company (NASDAQ:SORC) today announced its seventh successive record quarter for net income.
Net income for the second quarter ended July 31, 1998, was $790,786, a 137% increase over second quarter of 1997 net income of $333,472.
This also represents a 9% sequential increase over the first quarter of 1998, which was a strong quarter, reflecting extraordinary magazine sales due to publications dealing with the death of Princess Diana.
The Company also announced today that it has entered into a contractual relationship to provide retail display allowance services to Eckerd Corporation. Eckerd operates over 2,500 stores.
Quarter Ended July 31, 1998 July 31, 1997
Revenues $3,580,588 $2,940,137 Net Income 790,786 333,472 Avg. Shares 9,238,183 5,890,443 Shr. Earns: Net Income - Basic .09 .04 - Diluted .09 .04
Six Months Ended Revenues $7,175,790 $5,459,668 Net Income 1,517,415 589,598 Avg. Shares 8,865,692 5,857,698 Shr. Earns: Net Income - Basic .18 .08 - Diluted .17 .08
Condensed Summary Balance Sheet at July 31, 1998 Current Assets $23,637,000 Non-current Assets 6,660,489 Total Assets 30,297,490
Current Liabilities 5,723,762 Non-current Liabilities 2,496,599 Total Liabilities 8,220,361
Equity $22,077,129
The information contained in this press release may include statements regarding matters which are not historical facts (including statements regarding the plans, beliefs or expectations of the Company) which are forward-looking statements.......
The Source Information Management Company is a leading provider of periodical information and related marketing services to the majority of retail chains in the grocery, convenience, mass merchandise, and pharmacy industries.
Their integrated software system is designed to efficiently and accurately monitor sales of thousands of high volume consumer products primarily to optimize and collect sales incentive payments offered by manufacturers.
CONTACT: The Source Information Management Company, St. Louis W. Brian Rodgers, 314/995-9040 |